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Navigating the FX markets
The currency markets this year have been "wild, erratic, volatile". Ian Coleman from First4Trading says all the focus has been on the dollar; the fed; tapering, and that has taken the focus away from other cross currencies.
Looking ahead he sees strong buying pressure for GBPUSD. He expects a bounce around the Marabuzo level for more sterling buying towards 1:53
EURGBP: Aggressive selling last week resulted in initial gains being overturned, resulting in a rejection of a channel top at 8730. Ian expects downward pressure to continue through the channel base and says we will see further selling toward 8351.
The Swiss franc has retested its breakout level, and Ian is expecting dollar buying to come back in with USDCHF to move to the upside, with a target of 0.95
When it comes to USDJPY Ian says we need to see a break of 100.16 to push this pair higher.
01:43 minutes
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